29 May 2019
Two Evolution Group Companies Go Bankrupt
One of five companies in the Evolution Group
One of five companies in the Evolution Group
Two companies that were part of the Evolution Group have filed for bankruptcy. Sisca Business Solutions and Corlab Business Solutions. Sisca has debts of over $8 million with assets a little over $ 2 million. They had sheetfed offset, digital and wide format equipment. Started in 1992 and had reported sales of over $10 million several years ago.
Largest creditors were BDC and Bank of Montreal at aver $1 million each.
One of several companies run by Usman Shaikh
One of several companies run by Usman Shaikh
Trico Group another company under Evolution Group was listed at $378,000 owed. Corlab Solutions owed over $3 million with assets of $775,000. They were primarily a wide format company owing a lot of wide format suppliers. Sicsa was owed over $900,000. Usman Shaikh who is owner of Evolution Group was also listed as a director of both Sisca and Corlab. He has not been available for comment on if these bankruptcy will effect other Evolution Companies.  
2. Anon says:
1 June 2019 at 8:56 AM
If you go to groupesis dot ca , and under "bien à vendre" you will find a pdf with all the info to bid on all of sisca's and corlab's equipment. Though i think Evolution Group is going to buy back everything and us suppliers are going to lose 2 months of sales...
1. Mani Shaikh says:
31 May 2019 at 10:57 AM
We acknowledge the unfortunate turn of events with two of our brands; Sisca and Corlab. Unaffected are our other Evolution Group brands, including Trico. Each of the brands operate independent of each other with completely different management and financial infrastructures. We appreciate the continued support of staff, customers and suppliers.
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Bad morale. Wages poverty level for Canada, but high for US standards. Lack of professionalism, cohe...
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